Medtech : The Formation and Growth of a Global Industry, 1960–2020

This book offers an analysis of the dynamics of the global medical device (medtech) industry from the 1960s until the present, using the approaches of business history and industry studies. While most of the publications in the corresponding field have focused on particular countries/regions or actors, this research is unique in its scope. First, it explores the formation and development of medtech business both globally and in the major countries engaged in this industry (the United States, Japan, Germany, Switzerland, France, and China). Second, it tackles a broad range of actors and organizations, from individual entrepreneurs, medical doctors, and engineers to small family firms, start-ups, and large multinationals, as well as universities and research centers. Hence, for the first time, this book both provides a general understanding of the formation and transformation of the medtech industry throughout the world and sheds light on the main features of a fast-growing business in the twenty-first century. This book will be of value to historians, industry professionals, and analysts. Acknowledgements Contents List of Figures List of Tables Chapter 1: Introduction 1 The Domination of Multinational Enterprises 2 Clusters of SMEs and Spin-Off Chains 3 Networks Connecting Medical Doctors and Firms 4 The State and Regulation 5 A Business History of the Global Medtech Industry References Books and Academic Articles Chapter 2: The Dynamics of the Global Medtech Industry 1 Introduction 2 World Exports 3 Innovation 4 Mergers and Acquisitions 5 Conclusion References Books and Academic Articles Chapter 3: Formation of Medtech Big Business 1 Introduction 2 Methodology 3 World’s Largest Medtech Firms in 2014 4 Conclusion References Other Published Sources Books and Academic Articles Chapter 4: The Lasting Competitive Advantage of US Firms 1 Introduction 2 National Production 3 Foreign Trade 4 Mergers and Acquisitions 5 Innovation 6 The Competitive Advantage of General Electric 7 The Formation of American Medtech Giants 7.1 Specialized Giants: Zimmer Biomet 7.2 The “world’s most diversified health care company”: Johnson & Johnson 7.3 Diversified Giants: Medtronic 8 From Pharma to Medtech 9 Conclusion References Other Published Sources Books and Academic Articles Chapter 5: Japan: From Electronics to Medical Technology 1 Introduction 2 National Production and Foreign Trade 3 Mergers and Acquisitions 4 Innovation 5 Electronics Giants Diversifying to Medtech 5.1 Toshiba 5.2 Hitachi 5.3 Yokogawa Electric and GE 6 Optical Companies in Medtech: Olympus 7 Specialized Firms: Terumo 8 Conclusion References Other Published Sources Books and Academic Articles Chapter 6: Germany: Between Siemens and Specialized Medtech Firms 1 Introduction 2 Foreign Trade 3 Mergers and Acquisitions 4 Innovation 5 The World’s Largest Medtech Employer: Siemens 5.1 Historical Roots (1900–1945) 5.2 Post-World War II Growth (1945–1970) 5.3 Medical Imaging Fuels Rapid Development (1970–1993) 5.4 The Crisis of the 1990s and the Shift Toward Healthcare IT Services 6 The Case of Traditional Specialized Firms 6.1 An Independent Manufacturer: Karl Storz Endoskope 6.2 A Surgical-Instrument Maker Integrated within a Larger Group: Aesculap 6.3 A Pharma Company and Then a General Medtech Firm: Fresenius 7 Conclusion References Other Published Sources Books and Academic Articles Chapter 7: Orthopedics SMEs and Pharmaceutical Giants in Switzerland 1 Introduction 2 Foreign Trade 3 Mergers and Acquisitions 4 Innovation 5 The Main Actors in the Swiss Medtech Industry 5.1 Orthopedic Appliance Makers 5.2 Pharmaceutical Giants 5.3 Startups 6 Conclusion References Other Published Sources Books and Academic Articles Chapter 8: The French Medtech Industry: A Lack of International Competitiveness 1 Introduction 2 Foreign Trade 3 Mergers and Acquisitions 4 Innovation 5 Varieties of Development Pathways for Large French Medtech Companies 5.1 From the Pride of French Medtech to the Takeover by GE: CGR 5.2 Air Liquide Healthcare 6 Conclusion References Other Published Sources Books and Academic Articles Chapter 9: The Rise of a New Medtech Giant: China 1 Introduction 2 Foreign Trade 3 Mergers and Acquisitions 4 Innovation 5 Case Studies 5.1 The Largest Chinese Medtech Company: Mindray 5.2 Foreign Firms: The Development of GE Healthcare in China 6 Conclusion References Other Published Sources Books and Academic Articles Chapter 10: Conclusion References Books and Academic Articles References Archives Annual Reports of Listed Companies Newspapers Other Published Sources Books and Academic Articles